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The move follows a market closure on New Year’s Day but marks the third consecutive trading day of outflows for the BTC investment product, which is another record. Over the past week, BlackRock’s iShares Bitcoin Trust has seen $392.6 million in outflows.

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Terraform Labs co-founder Do Kwon appeared before a New York magistrate on Jan. 2, less than a week after being extradited to the United States to face criminal charges for his role in the Terra ecosystem collapse.

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Appearing before US Magistrate Judge Robert Lehrburger, Kwon pleaded not guilty to nine charges, including securities fraud, wire fraud, money laundering and commodities fraud. A status conference is scheduled for Jan. 8, allowing for the defense and prosecution to share evidence.

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Kwon was apprehended in Montenegro in 2023 after authorities arrested him for using falsified travel documents. He was sentenced to four months in prison but remained in custody for much longer as courts tussled over his extradition destination.

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On Dec. 27, Montenegrin Justice Minister Bojan Bozovic finally approved Kwon’s extradition to the United States.

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“The gravity of the criminal acts, the place of execution, the order of submission of the request, the citizenship of the requested person, the possibility of further extradition to another country, as well as other circumstances,” the Ministry of Justice said.

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Two US Republican Party lawmakers are calling on the Treasury Department to provide answers to how a Chinese state-sponsored entity hacked and accessed employee workstations.

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In the Dec. 31 letter to Treasury Secretary Janet Yellen obtained by Law360, Senator Tim Scott, a member of the Senate Banking Committee, and Representative French Hill, the House Financial Services Committee vice chair, asked for a full congressional briefing on the breach by Jan. 10.

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Scott and Hill want the briefing to cover the information accessed by the hackers, specific details on how it occurred and steps the Treasury has taken to ensure that similar incidents don’t happen in the future, adding:

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“As you know, Treasury maintains some of the most highly sensitive information on US persons throughout government, including tax information, business beneficial ownership, and suspicious activity reports,” they said.

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“As you know, Treasury maintains some of the most highly sensitive information on US persons throughout government, including tax information, business beneficial ownership, and suspicious activity reports,” they said.

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Fuelled by institutional interest, such as through exchange-traded funds (ETFs), and due to its limited supply, Wood said that BTC “is becoming even more scarce than gold.”

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Wood said that Federal Reserve Chair Jerome Powell previously described BTC as a digital version of gold, which aligns with the CEO’s positive outlook that the crypto market is still in the “early innings.”

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Comparing BTC to gold on Dec. 5, Wood weighed gold’s $15 trillion market against BTC’s $2 trillion market, suggesting significant potential for growth for the cryptocurrency.

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Copper withdrew its application to register with the UK’s Financial Conduct Authority on Dec. 20, saying it will shift focus to foreign hubs under its new CEO, the firm confirmed to Cointelegraph on Friday.

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Chaired by former UK Chancellor of the Exchequer Philip Hammond, Copper is one of the largest crypto businesses in the UK and has reportedly received millions in investment from Barclays.

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Copper reportedly failed to secure a permanent UK registration when the FCA updated its register of crypto asset businesses in 2022.

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Strengthening Copper’s presence in the United States, in addition to growth in Hong Kong and Abu Dhabi, was announced as central to the company’s global expansion approach in October 2022.

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